Published on 28 Nov 2023 on Insider Monkey via Yahoo Finance
Cognex Corporation (CGNX) Fell on a Weak Earnings Update
Baron Funds, an investment management company, released its “Baron Small Cap Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund had a fine quarter and is having a good year. The fund was down 3.11% (Institutional Shares) in the third quarter, in a weak market and year-to-date the fund was up 12.92%. The Fund outperformed the Russell 2000 Growth Index, which fell 7.32% in the quarter and is only up 5.24% year-to-date. The Fund slightly outperformed the S&P 500 Index in the quarter but is trailing year-to-date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Small Cap Fund highlighted stocks like Cognex Corporation (NASDAQ:CGNX) in the Q3 2023 investor letter. Headquartered in Natick, Massachusetts, Cognex Corporation (NASDAQ:CGNX) provides machine vision products. On November 27, 2023, Cognex Corporation (NASDAQ:CGNX) stock closed at $36.74 per share. One-month return of Cognex Corporation (NASDAQ:CGNX) was 2.08%, and its shares lost 23.06% of their value over the last 52 weeks. Cognex Corporation (NASDAQ:CGNX) has a market capitalization of $6.324 billion.
Baron Small Cap Fund made the following comment about Cognex Corporation (NASDAQ:CGNX) in its Q3 2023 investor letter: